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Abbott Labs: A Prescription for Success

Abbott Labs is the picture of health in an otherwise sickly drug industry. (Video)

IT LOOKS AS IF ABBOTT LABORATORIES HAS discovered the secret of healthy living. While most of its rivals are flat on their backs, the pharmaceutical giant has been cranking out promising new products, dodging competition from makers of generic drugs and posting double-digit gains in profits.

The company's shares (ticker: ABT) managed to climb 32% over the past three years, while health-care stocks as a group fell 15%. And with...